Parallel Advisors LLC Buys 14,770 Shares of SK Telecom Co., Ltd. $SKM

Parallel Advisors LLC increased its stake in shares of SK Telecom Co., Ltd. (NYSE:SKM) by 116.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,483 shares of the Wireless communications provider’s stock after buying an additional 14,770 shares during the quarter. Parallel Advisors LLC’s holdings in SK Telecom were worth $805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKM. Kestra Advisory Services LLC acquired a new stake in shares of SK Telecom during the 4th quarter worth $28,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in SK Telecom in the fourth quarter valued at about $30,000. Allworth Financial LP lifted its position in SK Telecom by 138.2% during the third quarter. Allworth Financial LP now owns 1,701 shares of the Wireless communications provider’s stock worth $37,000 after purchasing an additional 987 shares during the period. Wexford Capital LP acquired a new stake in SK Telecom during the third quarter worth about $39,000. Finally, Matthews International Capital Management LLC grew its stake in SK Telecom by 50.4% during the fourth quarter. Matthews International Capital Management LLC now owns 2,491 shares of the Wireless communications provider’s stock worth $51,000 after buying an additional 835 shares in the last quarter.

SK Telecom Price Performance

Shares of NYSE:SKM opened at $35.27 on Friday. SK Telecom Co., Ltd. has a one year low of $19.66 and a one year high of $47.18. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 1.15. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 58.79, a PEG ratio of 0.21 and a beta of 0.63. The firm has a 50 day simple moving average of $35.68 and a 200 day simple moving average of $32.29.

SK Telecom (NYSE:SKM) last announced its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.98 billion. SK Telecom had a return on equity of 2.78% and a net margin of 2.03%. Research analysts predict that SK Telecom Co., Ltd. will post 2.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

SKM has been the subject of several analyst reports. Weiss Ratings cut shares of SK Telecom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. HSBC raised shares of SK Telecom from a “reduce” rating to a “hold” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of SK Telecom from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded SK Telecom from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, JPMorgan Chase & Co. raised SK Telecom from a “neutral” rating to an “overweight” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce”.

About SK Telecom

SK Telecom Co, Ltd. (NYSE:SKM) is South Korea’s largest wireless carrier, offering a comprehensive range of mobile telecommunications services. The company operates 5G, 4G LTE and IoT networks, providing voice, data and messaging solutions to consumers and businesses. Beyond traditional wireless services, SK Telecom delivers fixed-line broadband, digital content platforms, cloud computing and cybersecurity offerings designed to support enterprise digital transformation and the growing demand for high-speed connectivity.

Established in 1984 as Korea Mobile Telecommunications Services, SK Telecom pioneered cellular service commercialization in South Korea and has continually expanded into new technology areas.